Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Turkey’s Ongoing Crackdown: nearly 13,000 police officers suspended for alleged links to the Gulen movement

President Recep Tayyip Erdogan has suspended nearly 13,000 police officers over suspected links to Fethullah Gulen, the U.S.-based cleric Turkey says is responsible for the July 15 coup attempt. Erdogan’s critics believe he has used the coup as an opportunity to crack down on his political opposition. Erdogan was often accused of trying to silence critics.

Gülen’s relatives dismayed over smear campaign against Islamic scholar

Dismayed, if not surprised, by the unabated smear campaign against distinguished Turkish Islamic scholar Fethullah Gülen, the scholar’s relatives have expressed their disappointment and anxiety over the endless accusations and slander against Gülen.

Gülen extends condolences over death of Saudi King

Turkish Islamic scholar Fethullah Gülen has expressed condolences over the death of Saudi Arabia’s King Abdullah.

Another suspicious death: Doctor dies of heart attack in prison

Ali Özer, a 48-year-old doctor who was jailed due to his alleged links to the faith-based Gülen movement, has died of a heart attack in Çorum Prison. This is 57th such suspicious death or suicide since last summer’s so-called coup attempt against Erdogan regime.

Istanbul court re-arrests former Zaman reporter minutes before leaving prison

Ayşenur Parıldak, a former reporter from the now-closed Zaman daily, was released early on Tuesday but was re-arrested by the same court hours before leaving prison upon a prosecutor objected to the initial ruling.

Turkish PM Erdoğan’s rhetoric and reality

One of the main problems that Turkish and foreign interlocutors of Turkish Prime Minister Recep Tayyip Erdoğan complain of is that he employs fiery rhetoric, with a special emphasis on drama, to score points with his home base of political Islamists, a narrow minority within his popular ruling Justice and Development Party (AK Party).

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Today’s Zaman celebrates 6th anniversary with columnists, editors

Turkish police detain 35 lawyers for ‘defending’ Gülen sympathizers

Kazakh President congratulated ‘Katev’ Foundation on 20th anniversary

Fethullah Gulen’s Message of Condemnation and Condolences for St. Petersburg Terrorist Attack

Prominent figures gather together at GYV iftar dinner in Istanbul

Gradual transformation of Turkey into an authoritarian entity under Erdogan’s leadership

2,500 schools confiscated, 30,000 teachers dismissed over Gülen links

Copyright 2026 Hizmet News